Technology

Blockchain Technology and the EOS.IO Software

Blockchain

A blockchain is a tamper-proof database, by which blocks of data are verified and time-stamped. Blockchain technology makes it possible to interact and exchange value in a trustless environment online. The founders of EUROPECHAIN are companies with extensive experience in block production and infrastructure.

EOS.IO Software

The EOS.IO software, developed by Block.one, facilitates the first highly scalable smart-contract blockchain. Other blockchains have transaction fees; with EUROPECHAIN, users will “stake” their coins to power the network, covering transaction fees. User tokens never leave individual possession, and users can “un-stake” at any time. The staking system replaces the “mining” model used by Bitcoin, meaning the network is powered by its own resources rather than consuming massive quantities of power. This allows the development of genuinely scalable decentralised and feeless applications. Inline/on-block businesses are owned by their communities. EOS.IO software is open source and can be deployed securely as a private network for internal operations.

EOS Block-Production

Instead of ‘mining’ on the Proof-of-Work algorithm like Bitcoin or Ethereum, EOSIO blockchains use the Delegated Proof of Stake algorithm, whereby token holders vote in 21 main block producers and reserve producers. These block producers require major infrastructure to handle enterprise class decentralised applications and need to be significant entities. Block producers are paid with the small annual inflation of EOS tokens in circulation. EUROPECHAIN block producers bring their professional experience on the EOS mainnet to EU companies to construct custom built blockchains to power EU business.